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Article: Dramatic rescue restructuring for RBS; over 20,000 jobs to go.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- February 22, 2009
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Dramatic rescue restructuring for RBS; over 20,000 jobs to go
London, Feb 22 (PTI) -- The Royal Bank of Scotland is all set to go for a dramatic rescue restructuring, wherein assets worth billions of pounds will be put up for sale and there will be more than 20,000 job cuts, media report says.
"The Royal Bank of Scotland (RBS) is to be split into a "good bank" and "bad bank" in a dramatic rescue restructuring in which assets worth several hundred billion pounds will be put up for sale," the Sunday Times said.
Besides, RBS chief executive Stephen Hester will cut costs by more than one billion pound a year, a move expected to lead to 20,000 job ...